Westinghouse Blocked in Bid to Seek $2 Billion Over Nuclear Plants
Thursday, June 29th, 2017
A Delaware court has reversed a decision that would have let Westinghouse Electric Co. try to recoup about $2 billion from a business partner over cost overruns at nuclear plant projects in Georgia and South Carolina.
Toshiba-owned Westinghouse has been mired in a dispute linked to its 2015 acquisition of Stone & Webster from Chicago Bridge & Iron. Westinghouse has sought $2.15 billion from Chicago Bridge over what it calls misleading financial statements. But Delaware Supreme Court in a ruling Tuesday says Westinghouse wants to keep the potential upside of the deal while sticking Chicago Bridge with spiraling costs.
See more at St Louis Dispatch.